Exclusive: many New Mexicans will pay less for health insurance next year

Individual health insurance premiums in New Mexico will drop by an average of 1 to 2 percent in 2015 for those who buy on the state’s health insurance exchange, New Mexico Superintendent of Insurance John Franchini said Wednesday.

Franchini’s office released the new individual rates from the five insurers that will be selling on the exchange. Three of those insurers – New Mexico Health Connections, Blue Cross and Blue Shield of New Mexico and Molina Healthcare of New Mexico – saw some decreases in their overall rates from this year, said Aaron Ezekiel, head of Affordable Care Implementation for the Office of the Superintendent of Insurance.

Presbyterian Health Plan had some increases, Ezekiel said. CHRISTUS Health Plan is new to the exchange.

“I think it came out well. I am very happy with the results,” Franchini told Albuquerque Business First. “The rates on average are 1 to 2 percent lower than last year, and three of the five companies have lower rates than before. I think the companies are more comfortable working in this competitive environment.”

Consumers will be able to begin shopping for plans on the exchange on Nov. 15 when the open-enrollment period begins.

All insurers offered three of the basic metal-tier plans – bronze, silver and gold. PHP also offered a platinum-level plan, the most generous, and the most expensive, of the plans on the exchange.

Prices vary among insurers. For instance, NMHC offered an individual bronze HMO plan for a 27-year-old nontobacco user for $107.16 a month. An HMO bronze plan for a 27-year-old nonsmoker from CHRISTUS was $214.32.